Liverpool have emerged as favourites to sign Benfica playmaker Nicolas Gaitan ahead of Manchester City and Manchester United. A bid of Â£20m would be enough to prise the 26-year-old Argentina international from the Portuguese champions.

Uefa will infuriate Manchester City by imposing a Â£20m fine on Paris St-Germain for breaching Financial Fair Play rules. City are set to face a Â£49m sanction and a cut to their Champions League squad of 25 to 21.